A One-Two Warning

By Tim Knight of Slope Of Hope

Managing Partner at Tim Knight Organization • Nov 8, 2023 at 11:42 PM EST

The collapse of Upstart Holdings is an interesting example of a two-chart phenomenon

Space Grey Ipad Air With Graph on Brown Wooden Table

Image Source: Pexels

The collapse of Upstart Holdings (UPST) is an interesting example of a two-chart phenomenon. First, there is the gargantuan and well-formed head and shoulders top, highlighted in yellow. Second, following the plunge after the top was formed, was the powerful retracement up to the neckline (whose peak is marked with the arrow). This was a nearly perfect gap-close, and it’s been in a free fall ever since. Quite the ride!

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